May 27, 2015, 1:35 pm
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1 Philippine Peso = 0.08216 UAE Dirham
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1 Philippine Peso = 0.04004 Neth Antilles Guilder
1 Philippine Peso = 0.2016 Argentine Peso
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1 Philippine Peso = 0.02051 Euro
1 Philippine Peso = 0.04602 Fiji Dollar
1 Philippine Peso = 0.01428 Falkland Islands Pound
1 Philippine Peso = 0.01454 British Pound
1 Philippine Peso = 0.09059 Ghanaian Cedi
1 Philippine Peso = 0.96408 Gambian Dalasi
1 Philippine Peso = 162.17085 Guinea Franc
1 Philippine Peso = 0.17191 Guatemala Quetzal
1 Philippine Peso = 4.63495 Guyana Dollar
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1 Philippine Peso = 24.73706 Korean Won
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1 Philippine Peso = 0.40431 Moldovan Leu
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1 Philippine Peso = 0.06089 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
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1 Philippine Peso = 113.99253 Paraguayan Guarani
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1 Philippine Peso = 0.13308 Sudanese Pound
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1 Philippine Peso = 0.03016 Singapore Dollar
1 Philippine Peso = 0.01452 St Helena Pound
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1 Philippine Peso = 96.85501 Sierra Leone Leone
1 Philippine Peso = 15.7943 Somali Shilling
1 Philippine Peso = 502.20328 Sao Tome Dobra
1 Philippine Peso = 0.19561 El Salvador Colon
1 Philippine Peso = 4.22364 Syrian Pound
1 Philippine Peso = 0.26923 Swaziland Lilageni
1 Philippine Peso = 0.75469 Thai Baht
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1 Philippine Peso = 0.05903 Turkish Lira
1 Philippine Peso = 0.14155 Trinidad Tobago Dollar
1 Philippine Peso = 0.68427 Taiwan Dollar
1 Philippine Peso = 46.21192 Tanzanian Shilling
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1 Philippine Peso = 0.02237 United States Dollar
1 Philippine Peso = 0.60037 Uruguayan New Peso
1 Philippine Peso = 56.6443 Uzbekistan Sum
1 Philippine Peso = 0.14204 Venezuelan Bolivar
1 Philippine Peso = 488.1895 Vietnam Dong
1 Philippine Peso = 2.41668 Vanuatu Vatu
1 Philippine Peso = 0.05572 Samoa Tala
1 Philippine Peso = 13.45192 CFA Franc (BEAC)
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1 Philippine Peso = 13.45192 CFA Franc (BCEAO)
1 Philippine Peso = 2.44717 Pacific Franc
1 Philippine Peso = 4.80674 Yemen Riyal
1 Philippine Peso = 0.26923 South African Rand
1 Philippine Peso = 116.08062 Zambian Kwacha
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US okays deal making biggest miller bigger

WASHINGTON - ConAgra Foods Inc, Cargill Inc and CHS Inc won U.S. antitrust approval on Tuesday to merge their North American flour mill operations after agreeing to sell four mills to a Japanese company.
 
The companies had announced in March 2013 that ConAgra Foods Inc would join Horizon Milling, a joint venture of Cargill Inc. and CHS Inc that is the largest flour miller in America. CHS is owned by farmers and cooperatives. The combined company will be called Ardent Mills.
 
Horizon Milling is already the largest U.S. flour miller, Archer Daniels Midland is the second-largest and ConAgra is No. 3.
 
To secure Justice Department approval, the grain and food-handling companies agreed to sell four mills to Miller Milling Co, a U.S.-based unit of Tokyo-based Nisshin Flour Milling Inc, which is a subsidiary of Nisshin Seifun Group Inc.
 
The mills to be sold are Horizon’s facility in Los Angeles and ConAgra’s facilities in Oakland, California; Saginaw, Texas; and New Prague, Minnesota.
 
“Without the Antitrust Division’s required divestitures, the creation of Ardent Mills would have resulted in less competition in the sale of wheat flour, resulting in customers, such as industrial bakers and food service companies, paying higher prices for wheat flour,” said Renata Hesse, a deputy assistant attorney general at the Antitrust Division.
 
The three companies are pleased with the approval, and the new entity will begin operations around the end of May, the companies said in a joint release. Under agreement with the Justice Department, this cannot be done until the four mills are sold.
 
“We strongly believe in the merits of this transaction and the benefits it will bring to customers, consumers, wheat suppliers, shareholders and employees,” said Paul Maass, president of Private Brands and Commercial Foods for ConAgra Foods.
 
Patrick Woodall of Food and Water Watch, which has asked for the deal to be blocked, said the required asset sale was inadequate since Ardent would have five of seven mills in the northeastern United States, between Boston and northern Pennsylvania.
 
And even with the divestiture of a Minnesota mill, Ardent will still have half of the flour mills in the St. Paul-Minneapolis area, he said.
 
Horizon, which is owned by Cargill and CHS, has 20 mills that can produce about 27 million pounds of flour a day while ConAgra’s 21 mills can produce 23 million pounds of flour, the Justice Department said in a court filing.
 
In afternoon U.S. trading, Conagra shares were down 0.4 percent and CHS shares were down 0.2 percent. 
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Column of the Day

Binay explains; PNoy defies China

By DUCKY PAREDES | May 27,2015
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’Even legal campaign contributions which were reported to the Commission on Elections (Comelec) were tagged as hidden wealth by AMLC, says Binay.’

Opinion of the Day

Consumer is king but has no throne

By AMADO P. MACASAET | May 27, 2015
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`The hungry man must be given the opportunity to feed himself.’
thought